Re: <nettime>the dollar's demise (and the rise of Asia)

[Carl Guderian <blacque_jacques@yahoo.com>]

So, basically, Bush and the neocons are playing Texas Hold-em with the 
world currency market. Who folds first? On the one hand, we've just 
advertised that currency speculators and central banks can make a 25% 
profit by selling bucks short over the next 6 months or so. On the other 
hand, dumping dollars could screw everybody in the longer term.

Chances are one of the Asian ones jumps first. I'm betting on Thailand, 
since they've got an expensive war brewing down south. As do the 
Philippines.

If the world's central bankers had balls of steel, they'd dump their bucks 
for yuan and make Bush go "OH SHIT!!" and intervene early, then buy back 
in when it looked like Bush was getting serious about propping up the 
dollar.

If I were an Asian central banker, I'd wonder how many dollars Soros was 
still holding, having been burned by him before.

Oops, too late by a year:

http://businessweek.com/magazine/content/03_51/b3863050.htm





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